Summer Gas Prices Continue Dropping
Sacramento, July 21- Average retail gasoline prices in Sacramento have fallen 4.4 cents per gallon in the past week, averaging $3.94/g yesterday, according to GasBuddy's daily survey of 720 gas outlets in Sacramento. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $3.57/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Sacramento during the past week, prices yesterday were 4.6 cents per gallon higher than the same day one year ago and are 5.0 cents per gallon lower than a month ago. The national average has decreased 10.7 cents per gallon during the last month and stands 10.4 cents per gallon lower than this day one year ago.
"As expected, motorists continue to see average gasoline prices falling across much of the United States," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "While the chorus is loud, some states in the Great Lakes did see a price jump last week, and as crazy as it sounds, it was due to retail prices falling faster than wholesale prices, likely spurred on by intense competition as prices dropped. Outside of the Great Lakes, prices have been gently falling in the last week- in every state but Wyoming, Ohio, and Indiana, but prices have begun moving lower again in the latter two, while Wyoming prices remain a bit difficult to forecast due to Wyoming's rural geography and low demand. Typically, price changes are felt slower in the Rockies because of lower demand provides a week or several buffer against changes in price taking place nationally," DeHaan said. In all, 13 states saw average prices decline more than 5c/gal.
GasBuddy operates SactoGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.
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